Cannell & Spears LLC Increases Holdings in Martin Marietta Materials, Inc. $MLM

Cannell & Spears LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 54.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,257 shares of the construction company’s stock after acquiring an additional 28,549 shares during the period. Cannell & Spears LLC owned approximately 0.14% of Martin Marietta Materials worth $47,710,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Martin Marietta Materials by 59.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,796 shares of the construction company’s stock valued at $2,235,000 after purchasing an additional 1,412 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in shares of Martin Marietta Materials by 11.3% during the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 2,675 shares of the construction company’s stock worth $1,575,000 after buying an additional 272 shares during the last quarter. M.D. Sass LLC raised its stake in shares of Martin Marietta Materials by 13.1% during the 1st quarter. M.D. Sass LLC now owns 103,109 shares of the construction company’s stock worth $60,698,000 after buying an additional 11,905 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Martin Marietta Materials by 27.7% in the 1st quarter. Lido Advisors LLC now owns 2,452 shares of the construction company’s stock worth $1,444,000 after buying an additional 532 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Martin Marietta Materials by 2.8% in the 1st quarter. Cetera Investment Advisers now owns 15,078 shares of the construction company’s stock worth $8,876,000 after buying an additional 416 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Oppenheimer began coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Truist Financial raised their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Raymond James Financial cut their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Trading Up 2.5%

Martin Marietta Materials stock opened at $560.71 on Friday. The stock has a market cap of $33.67 billion, a PE ratio of 13.36, a P/E/G ratio of 2.32 and a beta of 1.10. The stock has a 50-day moving average price of $575.98 and a 200 day moving average price of $610.19. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.